{"id":560,"date":"2020-10-12T15:49:30","date_gmt":"2020-10-12T13:49:30","guid":{"rendered":"http:\/\/maclabi.fr\/?p=560"},"modified":"2020-10-12T15:49:30","modified_gmt":"2020-10-12T13:49:30","slug":"evaluation-des-reformes-de-la-fiscalite-du-capital","status":"publish","type":"post","link":"https:\/\/maclabi.fr\/index.php\/2020\/10\/12\/evaluation-des-reformes-de-la-fiscalite-du-capital\/","title":{"rendered":"\u00c9valuation des r\u00e9formes de la fiscalit\u00e9 du capital"},"content":{"rendered":"\n<p><strong>France strat\u00e9gie<\/strong><\/p>\n\n\n\n<p>France strat\u00e9gie est un organisme cr\u00e9\u00e9 par un d\u00e9cret du 22 avril 2013 qui a pris la suite du Commissariat g\u00e9n\u00e9ral du Plan et du Centre d\u2019analyse strat\u00e9gique. Charg\u00e9 d\u2019expertise et d\u2019analyse prospective sur les grands sujets sociaux et \u00e9conomiques il est plac\u00e9 aupr\u00e8s du Premier Ministre. Il formule notamment des recommandations au pouvoir ex\u00e9cutif et contribue \u00e0 l\u2019\u00e9valuation ex-post des politiques publiques.<\/p>\n\n\n<p><strong>Comit\u00e9 d\u2019\u00e9valuation des r\u00e9formes de la fiscalit\u00e9 du capital<\/strong><\/p>\n<p>Pilot\u00e9 par France strat\u00e9gie, le Comit\u00e9 d\u2019\u00e9valuation des r\u00e9formes de la fiscalit\u00e9 du capital a \u00e9t\u00e9 install\u00e9 en d\u00e9cembre 2018 c\u2019est-\u00e0-dire un an apr\u00e8s la r\u00e9forme de la fiscalit\u00e9 du Capital. Cette r\u00e9forme rempla\u00e7ait l\u2019imp\u00f4t de solidarit\u00e9 sur la fortune (ISF) par un imp\u00f4t sur la fortune immobili\u00e8re (IFI), instaurait un pr\u00e9l\u00e8vement forfaitaire unique (PFU) sur les revenus de l\u2019\u00e9pargne et programmait en compl\u00e9ment sur toute la dur\u00e9e du quinquennat une baisse de l\u2019imp\u00f4t sur les soci\u00e9t\u00e9s (IS).<\/p>\n<p>Dans un premier rapport publi\u00e9 en octobre 2019 le Comit\u00e9 avait fait un point sur la fiscalit\u00e9 du capital en France et son poids dans l\u2019ensemble de la fiscalit\u00e9. Il pr\u00e9sentait le contenu pr\u00e9cis de la r\u00e9forme et rassemblait les enseignements \u00e0 priori que l\u2019on pouvait tirer d\u2019une revue de la litt\u00e9rature \u00e9conomique th\u00e9orique et empirique en la mati\u00e8re. Faute de disposer du recul temporaire suffisant le comit\u00e9 n\u2019avait pu donner beaucoup d\u2019\u00e9l\u00e9ments sur une \u00e9valuation ex-post. Il ne pouvait conclure sur l\u2019efficacit\u00e9 des r\u00e9formes en mati\u00e8re de fiscalit\u00e9 du capital.<\/p>\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/accountant-3681227_1280-1024x685.jpg\" alt=\"\" class=\"wp-image-559\" width=\"332\" height=\"222\" srcset=\"https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/accountant-3681227_1280-1024x685.jpg 1024w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/accountant-3681227_1280-300x201.jpg 300w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/accountant-3681227_1280-768x514.jpg 768w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/accountant-3681227_1280-1200x803.jpg 1200w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/accountant-3681227_1280.jpg 1280w\" sizes=\"auto, (max-width: 332px) 85vw, 332px\" \/><\/figure><\/div>\n\n\n<p><strong>Les riches plus riches<\/strong><\/p>\n<p>Ce 8 octobre 2020 le comit\u00e9 a publi\u00e9 un deuxi\u00e8me rapport qui indique de nouveau qu\u2019une \u00e9valuation compl\u00e8te reste impossible mais qui fournit des informations plus pr\u00e9cises.<\/p>\n<p>Les dividendes sont concentr\u00e9s sur un petit nombre de personnes. La suppression de l\u2019ISF et l\u2019instauration du PFU a eu pour effet de faire augmenter les revenus des 0,1% des fran\u00e7ais les plus riches. En 2018, 38000 personnes soit 0,1% des foyers fiscaux ont per\u00e7u les deux tiers des montants totaux alors qu\u2019ils n\u2019en recevaient que la moiti\u00e9 en 2017. Les ultra riches, 3800 personnes (0,01% des foyers fiscaux), en ont per\u00e7u le tiers alors qu\u2019ils n\u2019en recevaient qu\u2019un cinqui\u00e8me. Les dividendes distribu\u00e9s ont augment\u00e9 de plus de 60% en 2018. Ils sont pass\u00e9s de 14,3 milliards d\u2019euros en 2017 \u00e0 23,2 milliards en 2018 et la hausse se poursuit en 2019.<\/p>\n<p>La r\u00e9forme de 2018 avait aussi pour objectif d\u2019endiguer l\u2019exil fiscal. Le nombre de d\u00e9parts hors de France des contribuables ais\u00e9s a baiss\u00e9 d\u00e8s 2017 et le nombre de retours tend \u00e0 augmenter mais cette \u00e9volution porte sur de petits effectifs, de l\u2019ordre de quelques centaines \u00e0 comparer avec les 130 000 contribuables assujettis \u00e0 l\u2019IFI en 2018.<\/p>\n<p>Selon le rapport la forte hausse des dividendes en 2018 est en partie caus\u00e9e par la r\u00e9forme du PFU. Reste \u00e0 savoir ce que les fran\u00e7ais ais\u00e9s ont fait et vont faire de cet argent. Selon la th\u00e9orie des \u00ab\u00a0premiers de cord\u00e9e\u00a0\u00bb, ils devraient l\u2019investir dans l\u2019\u00e9conomie. C\u2019est la th\u00e9orie du ruissellement. Selon les tenants de la politique de l\u2019offre, soutenir massivement les entreprises permet de doper finalement la croissance et l\u2019emploi.<\/p>\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/courses-2318039_1280-1024x1024.jpg\" alt=\"\" class=\"wp-image-557\" width=\"266\" height=\"266\" srcset=\"https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/courses-2318039_1280-1024x1024.jpg 1024w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/courses-2318039_1280-300x300.jpg 300w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/courses-2318039_1280-150x150.jpg 150w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/courses-2318039_1280-768x768.jpg 768w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/courses-2318039_1280-1200x1200.jpg 1200w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/courses-2318039_1280.jpg 1280w\" sizes=\"auto, (max-width: 266px) 85vw, 266px\" \/><\/figure><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/piggy-3221807_1280-791x1024.png\" alt=\"\" class=\"wp-image-556\" width=\"258\" height=\"333\" srcset=\"https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/piggy-3221807_1280-791x1024.png 791w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/piggy-3221807_1280-232x300.png 232w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/piggy-3221807_1280-768x994.png 768w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/piggy-3221807_1280.png 989w\" sizes=\"auto, (max-width: 258px) 85vw, 258px\" \/><\/figure><\/div>\n\n\n<p><strong>Impact sur l\u2019\u00e9conomie<\/strong><\/p>\n<p>En conclusion, le comit\u00e9 d\u2019\u00e9valuation des r\u00e9formes de la fiscalit\u00e9 du capital se d\u00e9clare incapable de r\u00e9pondre par oui ou par non \u00e0 la question de savoir si la r\u00e9forme de 2018 a eu un impact positif sur l\u2019\u00e9conomie. La seule chose qui est certaine c\u2019est que les plus ais\u00e9s ont b\u00e9n\u00e9fici\u00e9 d\u2019une augmentation de leurs revenus et que les in\u00e9galit\u00e9s se sont accrues.<\/p>\n<p>La crise de 2020, provoqu\u00e9e par la pand\u00e9mie de covid-19, va avoir un impact important sur le financement de l\u2019\u00e9conomie et sur les choix d\u2019investissements des m\u00e9nages. Cela rendra plus complexe l\u2019\u00e9valuation \u00e0 moyen terme des effets des r\u00e9formes de 2018. Le montant des dividendes re\u00e7us par les m\u00e9nages va probablement diminuer en 2020 sans qu\u2019il y ait de lien entre cette chute et les r\u00e9formes de 2018. Il est donc peu probable que le comit\u00e9 d\u2019\u00e9valuation de la r\u00e9forme puisse r\u00e9pondre avant longtemps sur les effets de cette r\u00e9forme.<\/p>\n<p>Une seule chose est s\u00fbre les in\u00e9galit\u00e9s s\u2019aggravent, la pand\u00e9mie ne fait que les augmenter et la r\u00e9forme de la fiscalit\u00e9 du capital n\u2019a pas eu \u00e0 ce jour d\u2019impact probant sur l\u2019\u00e9conomie en mati\u00e8re d\u2019investissements et d\u2019emploi.<\/p>\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/money-4068357_1280-1024x576.png\" alt=\"\" class=\"wp-image-558\" width=\"337\" height=\"189\" srcset=\"https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/money-4068357_1280-1024x576.png 1024w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/money-4068357_1280-300x169.png 300w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/money-4068357_1280-768x432.png 768w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/money-4068357_1280-1200x675.png 1200w, https:\/\/maclabi.fr\/wp-content\/uploads\/2020\/10\/money-4068357_1280.png 1280w\" sizes=\"auto, (max-width: 337px) 85vw, 337px\" \/><\/figure><\/div>\n\n\n<p>12 octobre 2020<\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>France strat\u00e9gie France strat\u00e9gie est un organisme cr\u00e9\u00e9 par un d\u00e9cret du 22 avril 2013 qui a pris la suite du Commissariat g\u00e9n\u00e9ral du Plan et du Centre d\u2019analyse strat\u00e9gique. Charg\u00e9 d\u2019expertise et d\u2019analyse prospective sur les grands sujets sociaux et \u00e9conomiques il est plac\u00e9 aupr\u00e8s du Premier Ministre. Il formule notamment des recommandations au &hellip; <a href=\"https:\/\/maclabi.fr\/index.php\/2020\/10\/12\/evaluation-des-reformes-de-la-fiscalite-du-capital\/\" class=\"more-link\">Continuer la lecture<span class=\"screen-reader-text\"> de &laquo;&nbsp;\u00c9valuation des r\u00e9formes de la fiscalit\u00e9 du capital&nbsp;&raquo;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-560","post","type-post","status-publish","format-standard","hentry","category-economie"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u00c9valuation des r\u00e9formes de la fiscalit\u00e9 du capital - \u00e9conomie<\/title>\n<meta name=\"description\" content=\"France strat\u00e9gie France strat\u00e9gie est un organisme cr\u00e9\u00e9 par un d\u00e9cret du 22 avril 2013 qui a pris la suite du Commissariat g\u00e9n\u00e9ral du Plan et du Centre\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/maclabi.fr\/index.php\/2020\/10\/12\/evaluation-des-reformes-de-la-fiscalite-du-capital\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u00c9valuation des r\u00e9formes de la fiscalit\u00e9 du capital - 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